UBS cuts employee bonus pool by 10%, raises CEO's salary by $1.3 million

Switzerland's largest bank UBS cut the overall bonus pool for employees by 10% last year, while increasing its CEO Ralph Hamers' compensation by about $1.3 million. As per UBS' annual report, Hamers earned $13 million last year, up from $11.7 million in the year before that. Meanwhile, the bank's net profit attributable to shareholders was $7.63 billion for 2022.